SPECIAL EDITION - ObamaCare Architect: 75 Years is Long Enough to Live

FORECASTS & TRENDS E-LETTER
by Gary D. HalbertSeptember 25, 2014

[This post is from my weekly BETWEEN THE LINES blog, but I thought it important enough to send to my E-Letter subscribers as well. -GDH]

Most Americans probably never heard of or don’t remember the name Dr. Ezekiel Emanuel. He was one of the chief architects of The Patient Protection and Affordable Care Act (“ObamaCare”) from the very beginning.

If you remember his name at all, it may be because of his brother Rahm Emanuel, the beleaguered mayor of Chicago, former White House Chief of Staff in President Obama’s first term and former member of the House of Representatives.

While Dr. “Zeke” Emanuel no longer works for the Obama administration, he nonetheless made news recently with his controversial editorial entitled “Why I Hope to Die at 75.” This editorial was first published in The Atlantic online magazine on September 17.

Then on Monday, September 22, Dr. Emanuel appeared on MSNBC’s “Morning Joe” program hosted by Joe Scarborough. It was then that Dr. Emanuel’s controversial views hit the national stage – sort of (many in the mainstream media have not touched it).

Let me summarize Dr. Emanuel’s latest argument for all of us.

Basically, Dr. Emanuel (age 57) says that once he reaches the age of 75, he will forego all medical treatment and diagnostic tests and let nature run its course. “SEVENTY-FIVE. That’s how long I want to live: 75 years.” You might be thinking, “So what?” Who cares what some liberal kook may be saying?

"I picked 75, when you think about the combination of physical decline, the rise of Alzheimer's, the loss of creativity. And I really say you need to think about what you're going to leave your children, your family, your community, the country."

Emanuel contends that his decision to forego medical treatment after age 75 is a “personal decision.” However, there is no question in my mind that he is raising this issue – that the government should consider the idea of ending healthcare at age 75 – to a level of national discourse in the ongoing evolution of ObamaCare.

Emanuel has long advocated for government-run healthcare. While he was one of the chief architects of ObamaCare, he actually believes in a “single-payer” healthcare system in which the federal government is the sole arbiter of all medical treatment – but with a cruel twist!

The former doctor argued in his editorial and his Morning Joe appearance that 75 years is long enough for a person to live, saying that’s about the time when our health begins to decline.

In his morbid scenario, people would not receive healthcare and medical treatment beyond age 75 and would simply be allowed to die from disease or natural causes. He argues that the lion’s share of healthcare expenses are spent on those age 75 or older, which is true.

To really understand what is behind Emanuel’s warped motivation, we need to focus on this particular statement that was highlighted above:

Translated differently, this means that if you live too long and exhaust all your assets, then your life is viewed as a net total loss by the government, since you will have paid little or no estate taxes, and will have maxed-out all of your entitlement benefits.

Think about that for a moment.

Whereas if you die early enough, your estate has something to pass along in the way of taxes, etc. and you will have had substantially less impact on government entitlement programs.

When Obamacare was being debated, there were fears of “death panels.” In Emanuel’s scenario, the government wouldn’t need them.

This is the disgusting message that Dr. Emanuel has entered into the public debate over healthcare. The question is, why now? Why just before the mid-term elections? Does it hurt Democrats up for re-election? Did the White House know about this?

Emanuel admits in his editorial that his wife, his children, his brothers and his friends are upset with him over his decision to forego healthcare and medical treatment at age 75. So why do this so publicly? Especially when you were one of the original architects of ObamaCare.

There’s a lot of bad stuff going on in the world today that people are worried about, so maybe this bombshell from Dr. Emanuel doesn’t have “legs.” Maybe it will soon be forgotten. I don’t know, but I doubt we’ve heard the last of it. So, I wanted to make sure my clients and readers know about it.

Forecasts & Trends E-Letter is published by Halbert Wealth Management, Inc. Gary D. Halbert is the president and CEO of Halbert Wealth Management, Inc. and is the editor of this publication. Information contained herein is taken from sources believed to be reliable but cannot be guaranteed as to its accuracy. Opinions and recommendations herein generally reflect the judgement of Gary D. Halbert (or another named author) and may change at any time without written notice. Market opinions contained herein are intended as general observations and are not intended as specific investment advice. Readers are urged to check with their investment counselors before making any investment decisions. This electronic newsletter does not constitute an offer of sale of any securities. Gary D. Halbert, Halbert Wealth Management, Inc., and its affiliated companies, its officers, directors and/or employees may or may not have investments in markets or programs mentioned herein. Past results are not necessarily indicative of future results. Reprinting for family or friends is allowed with proper credit. However, republishing (written or electronically) in its entirety or through the use of extensive quotes is prohibited without prior written consent.